Woodside Petroleum gained 1 percent after reporting a 4 percent increase in its first quarter revenue.

Healthcare stocks such as CSL and Cochlear dropped 1-2 percent on a strong Aussie dollar and amid declines in their U.S. peers overnight on regulatory worries.

Gold miner Evolution tumbled 3 percent as gold hit its lowest level since the end of December after the release of upbeat China data.

GrainCorp declined 2.2 percent after its grains business experienced a deterioration of about A$40 million in expected EBITDA for the half-year period up to March 31, 2019.

Seoul stocks fell sharply after a recent string of gains. The benchmark Kospi plunged 32.12 points or 1.4 percent to 2,213.77 as the Bank of Korea cut its economic growth and inflation forecasts while leaving its key interest rate unchanged.

New Zealand shares fell modestly, with the benchmark S&P/NZX 50 Index edging down 22.62 points or 0.2 percent to 9,959.62.

Tourism Holdings plummeted 17.5 percent after the company lowered its annual profit guidance by as much as 22 percent, citing a weak U.S. market.